OJK Discovers 8 Violations by Dana Syariah Indonesia

The Financial Services Authority (OJK) conducted an investigation into Dana Syariah Indonesia (DSI) and identified eight violations that adversely affected lenders. These parties suffered losses due to non-payment of funds. The violations included the use of real borrower data to create fictitious projects, as well as publishing inaccurate information on the DSI website. There was also the use of affiliated parties as lenders to entice other investors. Agusman, the Executive Chairman of OJK, presented the findings during a session of Commission III of the Indonesian House of Representatives and reported that on October 15, 2025, OJK filed a complaint with the police. Prior to this, OJK collaborated with PPATK to trace the money flow losses. Further steps include imposing sanctions in the form of activity restrictions on DSI to prevent new victims and providing DSI with several directives to improve corporate governance.